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Draw up the profit and loss appropriation account

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Problem - A Ltd. has a balances of Rs. 1,151,000 in its profit and loss account on 1.4.2015. During 2015 - 2016 its profits amounted to Rs. 15,84,000. The income tax for the year amounted to Rs. 7,532,000. The company decided to these per Rs, 1,011,000 to General Reserve. Rs. 1,50,000 to Sinking Fund for debenture redemption. It was decided to pay dividend of 15%. The company's equity share capital consisted of 5,00,000 equity shares of Rs. 10 each. Draw up the profit and loss appropriation account.

Reference no: EM132802258

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